We refer to the article “POLICE VISIT PROTEST ORGANISERS’ HOMES AT MIDNIGHT TO DEMAND THEY COME IN FOR QUESTIONING" (therealsingapore, Oct 10).
CPF’s main issue?
How much money are Singaporeans losing due to the Government keeping the excess returns on our CPF?
Implicit tax on CPF returns?
Since we now know that GIC manages our CPF funds, and we estimate its annualised returns from inception to be over 6% – the excess returns that we lose is estimated to be about 3% because the weighted average return on all the CPF accounts is estimated to be 3%+.
Singaporeans lose $8.5b a year?
With over $269 billion in the CPF and contributions exceeding withdrawals by about $14 billion in a year, the estimated loss to Singaporeans is about $8.5 billion a year.
Lose $144b in 10 years?
Or about $53 and $144 billion in the next 5 and 10 years, respectively.
Already lost hundreds of billions?
Similarly, how much has Singaporeans lost out in the past? It may be in the hundreds of billions of dollars.
No country profits from national pension scheme?
No country in the world makes so much profits, or for that matter any profits at all, from the national pension scheme.
S Y Lee and Leong Sze Hian
P.S. Come with your family and friends to the 5th Return Our CPF protest on 25 October 4 pm at Speakers’ Corner https://www.facebook.com/events/446619505476438/